The long-term fixed mortgage lender said this change was part of its aim to make homeownership more affordable and support modern households.
April Mortgages said more households were purchasing a home together to combine their incomes and make homeownership achievable, while extended families were becoming more common and adult children stayed home for longer.
April Mortgages will now consider the incomes of all four applicants on the same terms as its standard borrowing.
Joint applicants will have access to its five-, 10- and 15-year fixed rates, with no early repayment charges when moving home or repaying the mortgage using their own funds. Its mortgages also allow for unlimited overpayments and automatic rate reductions as the borrower moves down loan-to-value (LTV) tiers.
The lender said the latest change has been shaped by conversations with advisers to give another solution beyond two-borrower applications.
James Pagan, director of product, portfolio and operations at April Mortgages, said: “The way people buy homes continues to evolve, and our proposition needs to evolve alongside it. We’ve introduced a number of practical solutions over the past few years to help advisers support clients with different affordability challenges, and accepting up to four borrowers is another example of that.
“By considering all four applicants’ incomes, we’re able to support more modern household arrangements while keeping the application process simple and efficient for advisers and their clients.”
